Mach 1 Financial Group LLC Sells 3,508 Shares of Phillips 66 (NYSE:PSX)

Mach 1 Financial Group LLC cut its position in Phillips 66 (NYSE:PSX) by 55.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,768 shares of the oil and gas company’s stock after selling 3,508 shares during the period. Mach 1 Financial Group LLC’s holdings in Phillips 66 were worth $369,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Cornerstone Planning Group LLC grew its stake in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the period. Bruce G. Allen Investments LLC bought a new stake in shares of Phillips 66 in the fourth quarter worth approximately $36,000. West Branch Capital LLC grew its stake in shares of Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares during the period. Bell Investment Advisors Inc grew its stake in shares of Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 138 shares during the period. Finally, Headinvest LLC bought a new stake in shares of Phillips 66 in the third quarter worth approximately $51,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

PSX stock opened at $140.17 on Thursday. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company’s fifty day moving average price is $155.67 and its 200-day moving average price is $137.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.17. The company has a market capitalization of $59.43 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. During the same period last year, the firm posted $4.21 EPS. On average, equities analysts anticipate that Phillips 66 will post 13.13 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 32.31%.

Insider Transactions at Phillips 66

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Bank of America lifted their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Mizuho cut their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Raymond James boosted their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $157.43.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.